Ripple vs. SEC: Expert Predicts 90% Odds in Favor of Ripple in Ongoing Legal Clash
In the ongoing legal dispute between Ripple and the SEC, legal expert John Deaton believes that Ripple has a significant advantage with a 90% chance of winning, compared to a slim 10% chance for the SEC.
Deaton emphasized that a settlement of $20 million or less would be considered a major legal triumph for Ripple, and this sentiment is shared by the crypto community.
The lawsuit, which originated from SEC allegations in 2020 regarding the unregistered securities offering through XRP sales, has seen significant developments. Recent rulings have determined that XRP is not a security on the secondary market, and charges against Ripple executives have been reduced.
Deaton’s assessment is supported by Ripple’s Chief Legal Officer, who highlighted the SEC’s recent setback in a different case and emphasized the importance of proving financial harm for penalties.
Ripple and the SEC’s legal battles have brought attention to XRP’s legal status and have raised concerns about regulatory implications for digital currencies.
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The court has approved a briefing schedule request regarding institutional sales of XRP, indicating potential case developments. Both parties are expected to present a joint schedule by November 9.
This legal conflict is not only significant for Ripple and the SEC but also for shaping regulatory landscape and interpretations in the crypto industry.